This follows a reorganization that merged the products of FAME Information Services, Inc. with those of the existing SunGard Market Data Services. The combined operating group, renamed SunGard Data Management Solutions, offers data management systems, value-added data services and content, and a real-time data delivery infrastructure to provide complete, end-to-end solutions for reference, market and historical data.
SunGard's referencePoint is an industry-leading solution specifically designed to solve reference and market data management business problems. From data acquisition, mapping, cleansing and enrichment to entitlement and distribution across a large-scale organization, referencePoint provides a scalable, component-based software framework for the creation and control of an enterprise-wide "golden copy."
"Tightening regulatory controls and operational risk associated with poor quality data have highlighted deficiencies in the manner that reference, market and historical data have been managed," commented Dale Richards, president of the Enterprise Data Management operating unit of SunGard Data Management Solutions. "Attacking the problem from a silo approach has proven difficult for many institutions, as reference data demands a high level of manual intervention to reconcile and ensure integrity across business units."
The Enterprise Data Management operating unit will focus on scoping, developing and implementing SunGard's data management strategy, which includes managing reference data for SunGard business units as well as SunGard customers.
"While financial services institutions have made significant strides in recent years centralizing the capture and distribution of market data, there is now a greater awareness of reference data issues, in particular the need for better control over the quality of pricing, instrument reference, historical, and client/counterparty data," added Cris Conde, president and chief executive officer, SunGard. "There is a clear drive within the industry to reduce overlap and centralize data management across business silos."
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